Haimayun has secured 280 million yuan ($44 million) in a new round of financing, while Shenzhen Lingxing Network Technology has raised 200 million yuan ($30 million) in a Series B round of financing led by Tiger Global.
Haimayun nets $44m in a new funding round
Cloud gaming technology services provider Haimayun has secured 280 million yuan ($44 million) in a new round of financing, it said in a WeChat post.
The round was joined by Chinese cloud-computing major UCloud and Migu Culture and Technology, a subsidiary of China Mobile Communications that provides digital content like anime, video games, comics, and music.
Proceeds of the funding round will be used to support better cloud gaming solutions, Haimayun said.
Managed by Beijing Haiyu Dongxiang Technology, Haimayun specialises in offering full-stack, platform-as-a-service (PaaS) services and other cloud-computing infrastructure support for the cloud gaming industry. Haimayun claims it has provided high-performing solutions to over 10,000 game products.
Previously, Haimayun has closed six other funding rounds and counts on its cap table prominent Chinese investors like GoldTech Capital, CDF-Capital, EleFirst Science&Tech, and Hardy Farm Venture.
China’s cloud gaming market is a rapidly growing industry given the development of the country’s 5G networks Its market size is expected to reach over 4 billion yuan ($627 million) by 2022.
Tiger Global leads Lingxing’s $30m Series B round
Shenzhen Lingxing Network Technology Co., Ltd, a developer of Software-as-a-service (SaaS) driven enterprise resource planning (ERP) products for cross-border e-commerce businesses, said on Friday that it has completed 200 million yuan ($30 million) in a Series B round of financing led by the US global investment firm Tiger Global.
Source Code Capital and supply chain logistics-focused Eastern Bell Capital participated in the fresh round as new investors.
Returning investors including Xiaomi’s Shunwei Capital, Hillhouse Capital’s venture unit GL Ventures, and Blue Lake Capital, a venture capital firm that targets corporate services and smart manufacturing, re-upped in the round, according to a company statement.
In October last year, the three investors — Shunwei Capital, GL Ventures, Blue Lake Capital — had joined hands with Zongteng Group, a global cross-border e-commerce infrastructure service provider, together seeding 70 million yuan ($11 million) for Lingxing’s Series A round.
Lingxing, which believes it can make cross-border easier, helps cross-border sellers maximize management efficiency such as logistics, storage, customer support and finance through its integrated SaaS ERP tools.
Since its inception in 2017 in Southeast China’s Shenzhen, Lingxing claimed to have served tens of thousands of clients consist of Pipigo, Patozon, Sellmore, Broken JAR, Yibao, among others.